Term sheet
A term sheet is a non-binding agreement setting forth the basic terms and conditions under which an investment shall be made. It is a template to develop more detailed legal documents. The parties involved reach an agreement on the details laid out in term sheer, a binding agreement or contract conforms to term sheet.
Advantages of term sheet
- ● Eliminate expenses: It helps in reducing the unnecessary expenditure on the company's resources.
- ● Time effective: It saves a lot of time and specifies all the basics of the contract.
Procedure
- ● A well efficient/competent lawyer from our team shall contact you, and explain you the total process, and will understand the need of terms sheet.
- ● Once the objectives of the terms sheet are clear, the lawyer shall draft a sample of terms sheet accordingly.
- ● The draft legal term sheet shall be sent to you, for your review.
- ● Once you approve it, it shall be served to the other party
- ● The whole process takes around 1-2 working days.
